Cracking the code Despite negatives, the IBC’s processes have matured Prominent voices such as the former governor of the Reserve Bank of India (RBI), Shaktikanta Das, have raised concerns about the long delays and low recoveries in the corporate insolvency resolution process (CIRP) and called for changes. Despite more resolution plans seeing approval, the average…
The National Company Law Tribunal (NCLT), New Delhi bench of Justice Ashok Kumar Bhardwaj (Judicial Member) and Anil Raj Chellan (Technical Member) has held that third parties who sold land to the Corporate Debtor cannot be said to fall within the ambit of expression “any persons who were knowingly parties to the carrying on the…
Darren Campbell: Controversial ‘brand builder’ shuts down company and enters liquidation MSN Read the original article here
The owner of a controversial ‘brand building’ company facing a civil lawsuit from former clients says the firm has shut down with immediate effect and gone into liquidation. Ballymena entrepreneur Darren Campbell from the FBA Brand Builder issued the update on social media on Monday where he said he had “lost everything” and “couldn’t afford…
The National Company Law Tribunal (NCLT), Mumbai bench comprising Ms. Reeta Kohli, Member (Judicial) and Ms. Madhu Sinha, Hon’ble Member (Technical) has held that the conduct of the Financial Creditor in accepting substantial ‘one-time settlement’ (OTS) payments while simultaneously pursuing Corporate Insolvency Resolution Process (“CIRP”) proceedings represents an attempt to use the Insolvency and Bankruptcy…
Molly Rose Brewing, the Hot-Listed Collingwood bar and brewing company, went into liquidation this morning. Nic Sandery, who founded the company in 2017, announced the news via an Instagram post. “A combination of rapidly increasing costs of operations and a reduction in consumer sentiment have made our financial situation untenable and after exploring every possible…
Beijing Judian Travel Technology (Judian), a joint venture established by Didi and Li Auto in 2018 to develop customised vehicles for ride-hailing services, faced financial collapse due to rapid changes in the electric vehicle industry and volatility in the mobility services market. Unable to repay research and manufacturing debts owed to nearly 100 suppliers, Judian…
Another highly-rated indie brewery has fallen foul of the ongoing economic headwinds facing the drinks and hospitality sector today, with Molly Rose Brewing appointing liquidators. The Collingwood-based brewing company cited delays in their most recent expansion, increases in construction costs and rising interest rates, and the ongoing cost-of-living crisis as contributing factors that have…
Company behind one of Scotland’s largest dental groups enters liquidation The National Read the original article here
Mitsubishi Heavy Industries Adjusts Subsidiary Liquidation Timeline TipRanks Read the original article here